The Latest SPAC News and Rumors: August 31, 2021

Aug 31, 2021 INTEL by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Sponsor behind Forbes deal says slowdown is ‘healthy’ for the market, Vice Media abandons SPAC talks, and former American Express executive Joan Amble joins Buzzfeed’s Board of Directors

Slowdown in SPAC Issuance Healthy For Markets, Sponsor Behind Forbes Deal Says

A slowdown in issuance by SPACs following a blockbuster start this year is “healthy” for the market and will help sustain the appetite for the investment vehicle going forward, according to the co-founder of L2 Capital Management, a Hong Kong-based private investment firm and blank-check sponsor.

Alpine Acquisition Corp. (REVEU) Prices $100M IPO

Aug 31, 2021 IPOs by Marlena Haddad

Alpine Acquisition Corp. announced the pricing of its $100 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “REVEU” Tuesday, August 31.

The new SPAC intends to combine with LA-based amusement park Two Bit Circus, concurrent with the completion of an initial business combination focusing on businesses such as drive-to destination hotels, digital entertainment and gaming, and lodging technology.

Spring Valley (SV) Shareholders Approve AeroFarms Deal

Aug 30, 2021 INTEL by Marlena Haddad

Spring Valley Acquisition Corp. (NASDAQ:SV) announced in a press release today that its shareholders approved its combination with vertical farming venture AeroFarms earlier this morning. The press release did not disclose redemption figures, but it is assumed a significant amount of shares were redeemed in connection to the vote since the release stated the minimum
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The Latest SPAC News and Rumors: August 30, 2021

Aug 30, 2021 INTEL by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Astra Space shares tumble after rocket fails to reach orbit and Ginkgo Bioworks and Givaudan enter multi-program collaboration

Astra Space Drops Most Since SPAC Deal After Mission Fails

Astra Space Inc.

CHW Acquisition Corp. (CHWA) Prices Upsized $110M IPO

Aug 30, 2021 IPOs by Marlena Haddad

CHW Acquisition Corp. announced the pricing of its upsized $110 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CHWAU” today, August 30.

Over 55 Law Firms Have Now Joined the Recent Statement on SPAC Litigation

Aug 30, 2021 INTEL by Kristi Marvin

The list keeps growing….

In a follow-up to last week’s statement by leading law firms declaring that the recent lawsuits by former SEC commissioner and current NYU Law professor Robert Jackson and Yale Law School professor John Morley, were “without factual or legal basis”, an additional nine law firms have added their names to the list.

Centricus (CENH) Pre-Announces Heavy Redemptions With Arqit

Aug 30, 2021 INTEL by Marlena Haddad

Centricus Acquisition Corp. (NASDAQ:CENH) pre-announced its redemption amounts this morning in an 8-K filing ahead of its shareholder meeting tomorrow to vote on its combination with quantum encryption technology firm Arqit. The filing disclosed that shareholders of CENH redeemed an aggregate of 32,351,570 shares, removing 93.8% of its trust. Centricus originally brought in about $345 million
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Petra Acquisition, Inc. (PAIC) to Combine with Revelation Biosciences in $128M Deal

Aug 30, 2021 INTEL by Nicholas Alan Clayton

Petra (NASDAQ:PAIC) has entered into a definitive agreement to combine with biotech firm Revelation Biosciences at an enterprise value of $128 million. San Diego-based Revelation is developing two drug candidates aimed at treating respiratory diseases as well as a diagnostic device for diagnosing viral infections. The combined company is expected to trade on the Nasdaq
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SPAC IPO Terms Tracker: More of the Same for the End of August

Aug 29, 2021 INTEL by sam.beattie

Terms Tracker for the Week Ending August 27, 2021 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. For the last full week of August, we saw six new S-1 registration statements, one more than last week, and three IPOs, two more than
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TWC Tech Holdings II (TWCT) Shareholders Approve Cellebrite Deal

Aug 27, 2021 INTEL by Marlena Haddad

TWC Tech Holdings II Corp. (NASDAQ:TWCT) announced in a press release today that its shareholders approved its combination with digital intelligence firm Cellebrite earlier this morning. The press release did not disclose redemption amounts, or any other information aside from the fact that all proposals were approved, but TWCT traded well above $10 throughout its
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Blue Water Acquisition Corp. (BLUW) Shareholders Approve Clarus Therapeutics Deal

Aug 27, 2021 INTEL by Marlena Haddad

Blue Water Acquisition Corp. (NASDAQ:BLUW) announced in a press release today that its shareholders approved its combination with pharmaceutical firm Clarus Therapeutics earlier this morning. A total of 3,270,531 shares were redeemed in connection with the meeting, leaving approximately $25 million remaining in the trust, which was estimated to hold $58.7 million going into the
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The Latest SPAC News and Rumors: August 27, 2021

Aug 27, 2021 INTEL by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Lucid investors could be forced to endure windfall, and Aurora says its next generation hardware kit will debut later this year

Lucid’s SPAC Investors Could Be Forced to Endure a Windfall

With Lucid (NASDAQ:LCID) hovering around $21.70, investors could almost double their money.

49 Law Firms Unite and Push Back on Recent SPAC Litigation

Aug 27, 2021 INTEL by Kristi Marvin

The legal community signs statement declaring these suits are “without factual or legal basis”.

In response to the recent PR machine from former SEC commissioner and current NYU Law professor Robert Jackson and Yale Law School professor John Morley, which have put out multiple statements in the press noting they intend to litigate SPACs for Investment Company Act of 1940 issues, an astonishing 49 law firms have coalesced to release a response to these allegations.

LGL Systems Acquisition Corp. (DFNS) Shareholders Approve IronNet Deal

Aug 26, 2021 INTEL by Marlena Haddad

LGL Systems Acquisition Corp. (NYSE:DFNS) announced in a press release today that its shareholders approved its combination with advanced network detection platform IronNet Cybersecurity earlier this morning. The press release also disclosed that 93% of the shares were redeemed in connection with the business combination. As a result, the combined company received gross proceeds of
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The Latest SPAC News and Rumors: August 26, 2021

Aug 26, 2021 INTEL by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.

Latest SPAC News: Car-sharing startup Getaround is in talks to merge with Altitude Acquisition Corp.,

Magnum Opus Acquisition Limited (OPA) to Combine with Forbes Global Media in $685M Deal

Aug 26, 2021 INTEL by Nicholas Alan Clayton

Magnum Opus (NYSE:OPA) has entered into a definitive agreement to combine with media group Forbes at an enterprise value of $685 million, or 2.9x its 2022E revenue. Jersey City, New Jersey-based Forbes operates a media group including wholly-owned and licensed publications and manages branded invents internationally. The combined company is expected trade on the NYSE
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Minority Equality Opportunities Acquisition Inc. (MEOAU) Prices Upsized $110M IPO

Aug 26, 2021 IPOs by Marlena Haddad

Minority Equality Opportunities Acquisition Inc. announced the pricing of its upsized $110 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “MEOAU” Thursday, August 26.

Cascadia Acquisition Corp. (CAAIU) Prices $150M IPO

Aug 25, 2021 IPOs by Kristi Marvin

Cascadia Acquisition Corp. announced the pricing of its $150 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “CAAIU” Thursday, August 26.

The new SPAC intends to focus its search on industry sectors that are being fundamentally reshaped by the introduction of advanced technologies, commonly referred to as “Industry 4.0.”.

Springwater Special Situations Corp. (SWSSU) Prices $150M IPO

Aug 25, 2021 IPOs by Marlena Haddad

Springwater Special Situations Corp. announced the pricing of its $150 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “SWSSU” Thursday, August 26.

Tortoise Acquisition Corp. II (SNPR) Shareholders Approve Volta Deal

Aug 25, 2021 INTEL by Marlena Haddad

Tortoise Acquisition Corp. II (NYSE:SNPR) announced in a press release followed by an 8-K filing today that its shareholders approved its combination with electric vehicle (EV) charger Volta Industries. SNPR shareholders redeemed 24,222,287 of its shares, removing approximately $242,236,609, or 70.21%, from it’s approximate $345 million trust. It traded well below $10 throughout its redemption
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